How to Set Up a Financial Consultancy Business in Dubai: A Step-by-Step Guide

If you are considering starting a financial consultancy business, Dubai is the ideal destination. With its world-class benefits and thriving market, Dubai can help you to achieve your business goals and offers a myriad of advantages to financial consultants and advisors.

  • 100% Foreign Ownership
  • 0% Corporate Tax
  • Favorable regulatory environment
  • Easy Business Setup
Start your Financial Consultancy License in Dubai, UAE - Smart Zones UAE

Why Setup Financial Consultancy Company in Dubai?

Dubai's advanced infrastructure, strong trade connections, and business-friendly environment make it an excellent place for businesses to succeed, especially in finance. Companies and investors here enjoy advantages like secure contracts, fair courts, full ownership, and low taxes. The DIFC, conveniently situated between the East and West, hosts over 2,000 firms. It's a top global financial hub, providing a stable platform for businesses and financial institutions to tap into growing markets in the Middle East, Africa, and South Asia.

What Is a Financial Consultancy Company?

A financial consulting Company in Dubai, UAE provides various services to businesses of all sizes, from small companies to large multinational corporations. They assist with budgeting, managing debt, raising funds, and offering financial advice. There is high demand for financial consultancy firms in Dubai.

Financial Consultancy Company in Dubai, UAE

A skilled financial consulting company can help create a plan that suits your financial goals and brings in good profits with low risks. Plus, they're there for advice even after the plan is done. Since Dubai's business sector keeps growing, financial consulting is always needed to make things easier for businesses.

Advantages of starting a Financial Consultancy in Dubai, UAE - Smart Zones UAE

Advantages of starting a Financial Consultancy in Dubai, UAE

Establishing a financial consulting firm in Dubai can be a profitable venture due to the high demand for financial advice in the UAE. There are several benefits to starting this business in Dubai, such as:

  • No taxes on personal or company earnings.
  • Easy-to-follow business setup rules.
  • Straightforward visa procedures for foreigners.
  • Top-notch infrastructure.
  • Strategic business location.
  • Robust market opportunities.
  • Ability to take all profits home.
  • Full ownership of your business as a foreigner.
  • No limitations on currency transactions.
  • A wide range of business activities available.
  • Excellent global connectivity.

Allowed Business Activities with a Financial Consultancy Firm in Dubai, UAE

The Consultancy Business can perform various activities under this license to their clients.

  • Conducting feasibility studies, analyzing price trends, performing market research, and making future forecasts.
  • Providing consulting services related to commodities, securities, and associated contracts.
  • Modeling components for investment portfolios.
  • Preparing financial statements and conducting performance analyses.
  • Offering investment consulting services to businesses.
  • Analyzing volumes, prices, and making informed decisions regarding financial investments, and more.

Furthermore, the holder of the financial consultancy license offers comprehensive assistance to individual investors and high-net-worth companies in diversifying their assets. They also provide financial planning and advisory services, ensuring effective financial growth for businesses.

Registeration Process of Financial Consultancy company in Dubai, UAE

For a financial consultancy trade license, you need a certification and special approval from the SCA (Security Commodity Authority). These are the steps to begin a financial consultancy in Dubai.

Start by selecting and registering your financial consultancy company's name with the UAE's Registry Office. You can use your name in the company's title, but you must use your full name, not just your last name or initials. The business name must follow UAE's naming rules, which means it cannot contain offensive or disrespectful language or references to Allah or Islam.

Selecting the business activities for your company is crucial for your financial consultancy trade license in Dubai. This license allows you to perform various activities under local laws, but not listing all your business activities can lead to penalties. To ensure your license application aligns with your business activities, it's advisable to collaborate with a company formation expert like Smart Zones UAE.

Dubai's recent simplification of business laws has created two main types of business setups: Mainland and Free Zone companies. You can opt for either structure for your financial consultancy, but understanding the differences is essential for making the right choice.

Mainland companies can trade within the UAE, but foreign investors are limited to owning 49% of the business shares. UAE law mandates that a UAE national holds the remaining 51% in a partnership with foreign-owned mainland companies.

A Free Zone Company can be fully owned by a foreign investor and registered in one of Dubai's 40+ special trade zones, offering benefits to foreign business owners, including startup support, business incubators, and financial assistance.

If you're uncertain about choosing between Mainland and Free Zone structures, the expert advisors at Smart Zones UAE can assist you.

To obtain a financial consultancy trade license in Dubai, you must rent an office space. Various office space solutions are available, from hot-desk setups to co-working spaces, office-sharing options, and executive offices. Smart Zones UAE can help you secure the right office setup that meets trade license requirements and fits your budget.

The Department of Economic Development (DED) in Dubai approves and issues financial consultancy trade licenses. Before submitting your license application to this agency, it's wise to seek assistance from company formation experts like Smart Zones UAE to avoid costly errors.

Once you've applied for your financial consultancy license in Dubai, you'll need to apply for your visa and open a corporate bank account for your company.

Remember that the process may vary depending on your chosen jurisdiction and business activities. Consulting legal and business experts familiar with Dubai's business landscape is highly recommended.

Operating since 2013, Smart Zones® UAE provides on-going support to obtain Business Services License in Dubai, UAE incuding Fintech Businesses.

Looking for a seamless business setup experience? Trust Smart Zones® Dubai to pave the way.

Required Documents to get Financial Consultancy License in Dubai

The documents needed to obtain a license can vary based on your business location and chosen activities. Here are a few examples of most common required documents:

  • Capitalization of shares
  • Getting approval from SCA and a license from DED
  • Permission to operate as a financial advisor
  • Proof that Emirati citizens own shares
  • To work in financial consulting and analysis, you need the right qualifications.
  • The key part of the process is having a business plan in both Arabic and English.

Cost of Establishing a Financial Consultancy Company in Dubai

The cost of getting a Financial Consultancy License in Dubai depends on where your business will be located, what activities it will do, how many visas you need, whether you need office space, and other factors.

For instance, if you're setting up an LLC Mainland Company with a Financial Consultancy License and you don't need office space or visas, it will be approximately AED 25,000. To get the exact cost for your specific business, please get in touch with the business setup experts at Smart Zones UAE in Dubai.

Asked Questions (FAQs)

A financial consultancy company in Dubai, UAE provides various financial services to businesses, including budgeting, debt management, fund raising, and financial advice.

Starting a financial consultancy in Dubai offers benefits like no taxes on earnings, straightforward business setup rules, easy visa procedures, top-notch infrastructure, strategic location, full ownership, and more.

A financial consultancy firm can perform various activities, including feasibility studies, market research, investment consulting, financial planning, and more.

The registration process includes steps like choosing a business name, selecting business activities, deciding on the business structure (Mainland or Free Zone), selecting an office space, applying for a trade license, obtaining a visa, and opening a corporate bank account.

Required documents can vary but typically include capitalization of shares, approval from relevant authorities, proof of ownership by Emirati citizens, and a business plan in both Arabic and English.

The cost of establishing a Financial Consultancy business in Dubai varies based on factors like location, business activities, visa requirements, and office space. For specific cost details, it's advised to consult business setup experts like Smart Zones UAE.

You can get expert assistance and guidance for setting up your financial consultancy in Dubai from Smart Zones UAE. They can help you navigate the entire process effectively.

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Want to know more, talk to Smart Zones® Dubai advisory team they will be happy to help. Ready to invest in your future?

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